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@aligator :thanks for posting on this thread. please post anytime. as you ran the fibs into a longer time frame; NEM has high potential, such is my choice for this investment.
Friday: I just rolled over my 55 calls into the next Friday. 2 55s for this diary and 2 55s for the other account.
NYSE has been closed for two days. Oh well, I am catching up on household tasks. I live in FL on the gulf, been through many hurricanes and tropical storms.
Here are a couple of daily and weekly VV charts. Note the S/R on the weekly chart. Long term (previous post) I think we are at the beginning of a wave 3 so it is a good place to be in for some leaps into the next 1-2 years. Looking at the S/R lines on the weekly chart, there is solid support at 52.53, so expect sideways until end of this month. A break of the 52.53 support will face the major 50 area floor. That is why I favor long term options.
Also, note the sell signal generated on both daily and weekly charts. So for the short term I personally would not hold options less than 60 days during the holiday season. But, watch for seasonal rally the day after Thanksgiving, good place to cash-in.